APPLICATIONS OF BLOCKCHAIN TECHNOLOGY IN SUPPLYCHAIN

ABSTRACT:

The globalization of supply networks makes the management and control of these systems
increasingly difficult to achieve. It is possible that blockchain technology, as a distributed digital
ledger system that assures transparency, traceability, and security, may be used to alleviate some
of the challenges associated with global supply chain management. It is a multi-party network of
logistics, shipping, manufacturing, and retail organizations that collaborate with one another to
transport a product from the point of production to the point of consumption or end use. In order
to address this, the study makes use of the Technology Acceptance Model (TAM) is a framework
that has been developed via prior research. Blockchain technology enables us to create
permissioned or permission-less distributed ledgers in which stakeholders may communicate and
collaborate with one another. It explains how Blockchain works, as well as the process of hash
algorithms, which allows for enhanced information security in the blockchain network. To
address these concerns, a solution based on the use of public and private Blockchains is
presented. The suggested approach has the ability to increase openness and validity across the
supply chain, as well as to enhance communication between the many parties engaged in the
process. In addition, we bring out some possible concerns that should be taken into consideration
while using Blockchain.

1.INTRODUCTION:

The most successful Blockchain Technology applications are still in the realm of
cryptocurrency, The potential of Blockchain Technology in supply chain management has been
acknowledged by both practitioners and researchers. Many theoretical papers on Blockchain
Technology exist, however there is a lack of published case reports and real-world
implementations. This study examines whether this insufficiency is attributable to a lack of
additional value provided by the technology, as well as other plausible explanations for the
situation. Blockchain Technology is also explained in this page, which includes information
about Bitcoin's past, its current structure, and its most basic characteristics. and explores the
concept of smart contracts. A thorough and well-structured review of the literature finds
possibilities Blockchain technology may be used in the field of logistics that have the potential to
provide economic advantages. Additionally, a cluster analysis was performed in order to
determine the subjects of the relevant literature to be reviewed. According to one of the study's
findings, Blockchain Technology is especially beneficial for commodities with a high monetary
value. Furthermore, if the amount of trading increases corresponding items is minimal, BCT's
advantages are maximized to the greatest extent possible. Moreover, at the same time, the desire
for openness and data's inability to be changed must take precedence over the protection of
personally identifiable information in order to be successful. An illustrative logistics process
within the Luxury Supply Chain will be given in addition to real use cases of Blockchains,
demonstrating the benefits of Blockchain Technology is used for each stage in the process in the
Luxury Supply Chain.The quantity of data being generated and gathered is increasing at a
breakneck pace.

1.1 SUPPLYCHAIN:

Supply chains are well-known for being huge, complicated, and sometimes unexpected due to
the fact that Sales, marketing, production, and procurement are among the four important
responsibilities that they do. They include all of the linkages involved in acquiring raw resources,
producing items, and distributing completed goods to the final customer. Operational supply
chain management demands methodologies and technologies that help organisations improve
your understanding of how unplanned disruptions occur and the ramifications for the flow of
products to meet consumer demand. Managers benefit from supply chain insight because it
enables them to not only plan effectively but also respond properly to correct information.
Tracking assets like as pallets, vehicles, and containers that are constantly being moved between
supply chain nodes is essential is an inefficient process. is a source of frustration for supply chain
professionals. Authorizations and refunds, shipping alerts, and various papers pertaining to the
trade are all being misplaced, causing confusion.

1.2 ADVANCED TECHNOLOGY IN BLOCKCHAIN:

The failure to assign or verify particular physical qualities of physical objects, or the failure to
attach commodities according to serial numbers, bar codes, or electronic tags such as radio
frequency identification (RFID), are all examples of noncompliance. Supply chain systems now
in use store critical information about each step of the supply chain; personnel working in
various phases of the supply to update or finish the chain; the system must be the same as before.
the information about the process. Typically, a localised system, such as an enterprise resource
system (ERP), is composed of a confined holding of the company's data and does not include all
phases of the supply chain in their entirety. The goal is to close the gap between the various
phases of the supply chain by using blockchain technology for supply chain management. The
rise of most due to technological advancements in what is known as the "Internet of Things"
(IOT) devices, as well as the increasing importance of computing power and resources for
storing data. Data is developing and becoming ingrained in daily human activity, from the
sourcing of raw materials through the creation of products and their distribution to end
customers. The proliferation of data has created an opportunity for new ways and techniques for
creating, storing, analysing, and gaining usable information from the supply chain.

1.3 BLOCKCHAIN IN SUPPLYCHAIN MANAGEMENT:

    The Blockchain technology enables data to be stored in files known as blocks, which are
stored in a distributed database. Despite the fact that Transactions may be recorded using
blockchain technology of nearly any sort depending on specific parameters that are agreed upon
by stakeholders, computer specialists are still sceptical about trusting this technology for
sophisticated and long-term transaction management. They are still dubious about the system's
capacity to preserve trustworthy digital documents, which is understandable. Control-based
threats, such as the control of the Blockchain and the control of record generation outside of the
Blockchain, as well as attack-based threats, such as man-in-the-middle assaults, are both
potential dangers to the blockchain., SYN Flood attacks, Sybil attacks, and audit server attacks
are distinguished from system-base threats such as timing errors and original record preservation
and process-base threats such as hash collision and encryption code breach. When using the
Blockchain, multiple organisations may cooperate and verify entries in the Blockchain,
providing stakeholders with a better understanding of the overall operations that are taking place.
This article proposes the use of blockchain technology to allow multiple downstream as well as
upstream participants in the supply chain to verify the validity of transparency across numerous
supply chain phases for each individual block, as described in this paper. In order to create a
block, many participants in the supply chain must first contribute input and come to an
agreement on its content. As soon as it is implemented, the blockchain will have a set of
limitations that cannot be broken by any one block.

    Supply chains may consist of hundreds of steps and numerous geographical locations, making
it difficult to track down events in the supply chain and examine any problems that may have
occurred. The lack of openness, monitoring, recording and exchange of information has resulted
in a lack of accountability. in the marketplace, buyers have no reliable means to verify the
genuine worth and authenticity of a product they have bought. Lack of transparency results in a
lack of information being communicated regarding the manufacturing process of items,
assembly, distribution, and certification of materials used, all of which might result in risks and
concerns in the supply chain if not addressed. This also increases the possibility of supply chain
fraud, such as product counterfeiting, as well as the responsibility for any illegal acts that may
take place. When producing items, queries such as "Where are these components coming from?"
and "How do I know whether they're good?" are often asked. How well do they perform in terms
of meeting the necessary criteria and being safe?

2. Literature Review:

Recently, an increasing number of applications based on Blockchain technology have been

developed (Xu et al., 2016). Initially, Bitcoin relied heavily on the Blockchain technology
(Nakamoto, 2009). In 2008, "Satoshi Nakamoto" established "Bitcoin" as a kind of digital
currency. Blockchain is the technology that powers Bitcoin and it serves as the Internet's
payment layer. This novel kind of universal computational substrate enables the updating of truth
statements in dispersed computer networks (Swan, 2016). According to a recent assessment
(Zyskind, Nathan, & Pentland), Blockchain-inspired technologies fall into two categories:
completely decentralised semi-centralized permissioned ledgers (e.g., Bitcoin) and
permissionless ledgers (e.g., Ethereum) (e.g., Ripple). These are referred to as 'distributed
ledgers.' Lack of study on the application of Blockchain technology prompted academics to
explore the technology's potential in other fields. lnes (2016) studied the potential for this
technology to be used in electronic government. To this purpose, a case study of academic
credentials being stored on the Blockchain was given to demonstrate the innovative potential of
the new technology for storing and safeguarding essential information. He came to the
conclusion that, Despite the fact that blockchain technology is a promising one for the future,
authenticating many different sorts of permanent documents, there is still a long way to go before
it can be used in the public sector. However, the ramifications and constraints of adopting such
technologies as a software connection have also been discussed in detail. Dierks Meier and Seele
are two of the most talented people in the world. A business ethics viewpoint on the influence of
the impact of "blockchain technology" on the role of economic transactions is being studied. was
offered by Dierks Meier and Seele (2016) in order to address the impact of "Blockchain
technology" on the nature of financial transactions. They merged multiple business and to give a
framework for assessing society at many levels, such as the micro, meso, and macro levels the
present situation of cryptocurrency ethical debates, which they call the "current status of
cryptocurrencies ethical debates." (Madumidha et al, 2019)

The majority of the literature on blockchain technology in the domain of supply chain
development (Helo and Hao, 2019) (Nakasumi, 2017) illustrates theoretical framework/model
development, analysing the difficulties, possibilities, impediments, and drivers (Helo and Hao,
2019). (Biswas and Gupta, 2019, Frizzo-Barker et al., 2020), potential application in certain parts
(Karumanchi et al, 2019) or tie of the supply chain (Biswas and Gupt (Fu et al., 2018, Mandolla
et al., 2019, Wasim Ahmad et al., 2020). For example, work by Sunny, Undralla, and
Madhusudan a Pillai, for example, is a compendium of literature concentrating on blockchain-
based traceability solutions for diverse supply chains (2020). Nonetheless, as previously
indicated, operational models in the context of the supply chain have been difficult to come by.
According to Queiroz and Fosso Wamba (2019), the integration of blockchain with supply chain
management is an area that is understudied Recently, Pal and Yasar (2010) proposed a
conceptual enterprise information systems architecture for Internet of Things applications that is
built on the blockchain-based distributed ledger technology. Moreover, argument papers by da
Cruz and Cruz, (2020), Lam and Lei, (2019), and others have suggested that traceability is vital
to tracking sustainability criteria and that blockchain technology may be used to store traceability
data. Shi, Lu, Tao, Liu, and Zhang (2020), focusing on the garment trade, developed a smart
contract that can be confirmed by checking the digital signatures of trading parties. For digital
rights management purposes, Lu, Shi, Tao, and Zhang (2019) suggested a blockchain-based
architecture for copyright registration, verification, and trade in the context of garment design.
Blockchain-based traceability has the potential to detect counterfeits or false transactions while
also tracking/tracing product origin and supply chain activity, reducing paperwork processing
time and increasing efficiency (Kshetri, 2018; Tu et al., 2017). Blockchain technology, with its
interconnected hash function, may aid in the examination and tracking of a product's history and
trail (Zhao et al., 2019).

2.1 BLOCKCHAIN:

There have been a number of studies conducted in an effort to determine the performance and
effect of Blockchain in comparison to previous systems. Keeping their scalability limitations in
mind. Vukoli (2016) conducted a comparison of Blockchains based on proof-of-work (Pow) and
Blockchains based on Byzantine fault-tolerant (BFT) state machines (Vukoli, 2016). A study of
current suggested solutions designed for the ultimate Blockchain fabric was conducted in order
to overcome these limitations. (Xu et al 2016) conducted an investigation on the architectural
choices made in a system based on their previous experience with many Blockchain projects.
Whether to use a decentralised In contrast to other software solutions, such as a traditional shared
data storage system, blockchain is a distributed ledger technology is a question in the
circumstances described above.

The use of a risk-based evaluation approach to evaluate the deployment of Blockchain

technology in the land register system was the subject of Lemieux (2016)'s investigation into
whether or not Blockchain technology produces trustworthy digital records. Despite the fact that
Blockchain technology may be utilised to solve challenges related with information integrity in
the present and near future (Lemieux, 2016), the trustworthiness of information and the capacity
to preserve long-term preservation cannot be guaranteed. One such research, completed in 2016,
looked at how Blockchain technology may be used to avoid data sharing, archiving and increase
patient privacy by allowing patients to easily own, manage, and share their personal data in a
safe environment. In this respect, Yue, Wang, Jin, Li, and Jiang (2016) created an App entitled
Healthcare Data Gateway (HGD) that was established on the basis of Blockchain architecture
and has the potential of organising and categorising all types of personal healthcare data as well
as safe Multi-Party Computing.

The solution proposed by Blockchain is the use of a timestamp server, which takes the hash of
a block of things, timestamps them, and then broadly distributes the hash (Yuan & Wang, 2016).
This entails using hash algorithms in order to locate a given value. Users will only accept a
Block if all of the transactions included inside it are genuine and the Bitcoins have not been
spent in the preceding 24 hours (Yuan & Wang, 2016). Users demonstrate their approval of the
new hash by including it in the "prior hash" part of the next Block they try to construct using the
new hash. This results in the addition of a new Block has been added according to the chain (the
Block chain or transaction log). As a result, the chain contains the whole record of all
transactions on the network. taken place on the network across its entire lifetime (Yuan & Wang,
2016). The first Block of a Blockchain is referred to as the genesis block, and it does not have a
parent since each Block on the Blockchain is referenced or recognised by its hash (Christidis &
Devetsikiotis). The second Block of a Blockchain is referred to as the node block. A Blocks hash
is a hashing operation that only goes one way algorithm that is used to map an input to an output
in most situations. You may choose from a variety of hash algorithms to employ in your
application.

The Blockchain is not officially updated until a careful mathematical hash has been
determined by competing mining machines to ensure the content of new links has been officially
added to the Blockchain (Yuan & Wang, 2016). In order to ensure that when a bitcoin is
transmitted from one user to another, it must be approved with a hash value to be valid that
corresponds to a previous transaction, as well as the public key of the subsequent owner. A hash
is defined as a series of signatures linked together. These may be checked by the payee to ensure
that the chain of ownership is valid (Yuan & Wang, 2016). It is necessary to have client software
that operates on either an individual device or a cloud-based service in order to become a
member of the peer-to-peer networking community (Yuan & Wang, 2016). Because malevolent
users may rewrite their history, Nodes in the network will only accept the first authenticated
transaction and will reject any further attempts to complete the transaction to perform any
additional transactions in order to prevent this from happening.
2.2 BLOCKCHAIN USE CASES:

The great majority of cloud-based services now in use are managed by a single trusted
governing organisation that is in charge of the network, storage, and compute. A centralised and
distributed strategy may be preferable for certain applications, but in others, a decentralised and
distributed approach may be more appropriate. Examples include Walmart, the world's largest
retailer, and other large corporations., is now undertaking pilot testing for food traceability across
the global supply chain (Zhao, Fan, & Yan, 2016). Blockchain technology is currently being
developed. Trace and trace management systems are becoming more common as the digital
economy continues to develop, the internet of things (IoT) becomes more prevalent in everyday
life, and the use of sensors to collect information from moving parts in supply chains becomes
more common. Track and trace management systems are used to simplify and improve the
efficiency of the supply chain. Examples include Blockchain technology spreading beyond the
worlds of currencies and banks and making inroads into areas such as real estate and land
registration systems, digital healthcare record systems (Kar, 2016), and government
identification and registration systems, to name a few (Kar, 2016). The authors (Christidis and
Devetsikiotis). Many businesses, like PayPal, Apple, and the Universal Air Travel Plan, have
already begun accepting Bitcoin as payment, and more are anticipated to do so in the future
(UATP). Additionally, in recent years, firms including as Citicorp, Goldman Sachs, Barclays,
Overstock, and IBM have begun to pay attention to cryptocurrencies. World Bank reports that
governments all around the world are preparing legislation for cryptocurrencies, including those
in countries such as Brazil, Russia, India, China, and South Africa (BRICS). Another topic under
consideration by the BRICS business council is whether it would be feasible to develop a BRICS
cryptocurrency as an alternative to existing financial instruments (2017). The United States and
many other nations have already employed bitcoin technology for interbank payments, and
Australia has already started testing blockchain-based bank guarantees in the country (CIO).
Solutions such as pegged sidechains and pegged sidechains have been created to address
interoperability concerns that have arisen between bitcoin and other ledger assets across multiple
blockchains (Back et al., 2014).

2.3 ADVANTAGES AND DISADVANTAGES:

 Transaction costs may be reduced by processing them across a distributed network rather than
through a single node that performs the functions of a bank or clearing house. The use of the
Blockchain to process transactions is less expensive than the previous technique. Chuen and
Deng are two of the most talented people in the world (2017). The validation and verification of
data, on the other hand, is associated with expensive hardware and energy expenditures (PWC,
2016). Waiting for stakeholders to complete their due diligence procedures may have an effect
on the processing of transactions since the business of processing transactions is highly
concentrated. Companies may release money or value more rapidly using Blockchains because
they can be designed to operate in parallel, possibly resulting in large efficiency dividends. For
example, Businesses may unlock cash or value more quickly than they can wait for a transaction
to be completed, allowing them to grow faster. The number of transactions processed by each
payment processor may be expanded by orders of magnitude, but the additional coordination
costs required to counteract network effects must be taken into consideration.

The disadvantage of a single Blockchain is the exponential growth in the cost and time each
Block, and hence per transaction, as the number of transactions increases. Some believe that the
technology's major value is security rather than efficiency, and this is a valid point. Dirkmaat is
an abbreviation for Dirk Maat (2017). Interoperability between various Blockchains is required
in order to be able to utilise numerous Blockchains in order to enhance efficiency. Blockchains
must be able to communicate with one another since a single Blockchain can only do so well on
its own (Kan et al., 2018). Studies like as those conducted by Wood (2016), Ding et al. (2015),
and Greenspan (2015) have provided a framework for exchanging information across various
Blockchains. This difficulty has also been addressed with promising solutions, such as storing
real data on Sidechains, as well as using the Blockchain as a control plane instead of a storage
layer, are important considerations, rather than as a storage layer (Andoni et al., 2019). In
addition to the dependability provided by blockchain technology, a single point of failure does
not have the effect of affecting the whole network's functionality. The many works evaluated in
this paper demonstrate that Blockchain is a promising technology that has the potential to be
used to a broad range of applications.

2.4 SUPPLY CHAIN MANAGEMENT:

 People, systems, knowledge, and procedures are just a few of the components that make up
supply chain management. In a broad supply chain, it is very difficult to get a comprehensive
picture of all the transactions that take place inside the chain (Haq, Monfared, Harrison, Lee, and
West, 2010; Harrison, Lee, and West, 2010). In many cases, this information is stored in a
number of separate system places that are only accessed by certain parties in the distribution
process. Researchers investigate how Blockchain technology is changing the supply chain in a
number of articles (Korpela, Hallikas, and Dahlberg, 2017), Antonio et al., 2019, and Apte &
Petrovsky, 2016). The integration of digital supply chains is growing more dynamic all of the
time. Blockchain technology is making significant strides in supply chains, aiding in the delivery
of raw materials, manufacturing processes, and finished goods. It is anticipated that the
implementation of Blockchain technology would accelerate the process while also making
transactional records more resilient and dependable (Apte & Petrovsky, 2016). Rather than
confining a supply chain to a certain location, the use of multiple blockchains will make it
feasible to create global production chains that are viewable from anywhere in the world, rather
than only inside a specific region. Kietzman (2017) remarked that the hitherto unknown aspects
of a vast network of merchants, distributors, transporters, storage facilities, and other service
providers who engage in design and manufacturing as well as transportation and sales would be
made public in the future. Open, transparent supply chains, as well as environmentally friendly
production, will provide organisations with a competitive edge. Models have been developed to
monitor agricultural production along the supply chain (Casado-Vara, Prieto, la Prieta, &
Corchado, 2018). This new model emphasizes the idea of sustainable society and removes many
of the disadvantages associated with the supply chain, such as the costs associated with
exchanging information between multiple supply chain partners, through the use of a single
model. Our model depicts a high-level overview of the planned deployment of blockchain
technology in the supply chain.

3.ANALYSIS:

3.1. MODEL POSITS:

The supply chain management process includes a large number of diverse stakeholders,
making blockchain an excellent choice since it can accept input from a large number of diverse
parties. According to the suggested concept, organisations should construct both public and
private blockchains that are also compatible with one another. Furthermore, organisations will
have to ensure that governance and management benchmarks are in place in an online
community setting. In order to safeguard users' personal information and privacy, it has also
been suggested (Zyskind et al., 2015) to separate datasets and their hash functions into
independent ledgers.

1. The first supply chain management process includes a large number of diverse
stakeholders, making blockchain an excellent choice since it can accept input from a
large number of diverse parties. According to the suggested concept, organisations should
construct both public and private blockchains that are also compatible with one another.
Furthermore, organisations will have to ensure that governance and management
benchmarks are in place in an online community setting. In order to safeguard users'
personal information and privacy, it has also been suggested (Zyskind et al., 2015) to
separate datasets and their hash functions into independent ledgers. The first blockchain
examines the process of procuring goods from vendors. Because the Blockchain is
available to the public, it enables external stakeholders to submit information such as
access to raw materials, the facility where the product is manufactured, the accessibility
of stock, and minimum purchase amounts, among other things. As well as entering any
purchasing order information, the suppliers of the manufactured components may also
input data on the quality management and certification that has been completed. Lastly,
the freight forwarder inputs information on the products that are being picked up, as well
as information about projected delivery times and any delays that may be encountered.
2. The second accessible Blockchain that has been suggested is known as "Private
Blockchain 1." This Blockchain comprises information on any client orders, the
merchandise that is accessible, and particular product requirements such as that of the
purchase requisition that are necessary. Again, when the components or items have been
acquired from the suppliers, they are put into the system, and the distribution of the
products to either a warehousing is recorded as well. The Blockchain will also include
quality assurance and regulatory data, among other things.
 3. The third Blockchain is a public Blockchain that includes details such as particular
consumer order information, warehouse control information such as inventory levels,
allocation information system for the transportation of goods from the manufacturer to
the consumer, as well as shipping affirmation information.

OVERVIEW OF PROPOSED CONCEPT

It is possible to have a more transparent supply chain of products or services via the use of
compatible public and private blockchain technology. Each link in the chain offers stakeholders
the capacity to govern information via the use of secure, traceable, and irreversible data storage
and transmission records. The model that has been suggested incorporates all of the stakeholders
engaged in supply chain management. It assures that no transactions are missed, no mistakes are
made, or even if a transaction is not completed with the permission of all parties engaged in the
transaction. Every piece of information in the supply chain network is recorded on the
blockchain and made accessible to individuals that possess the appropriate credential
authentication. The assurance of authenticity is the most critical area in which the Blockchain
can assist. The legitimacy and responsibility of a transaction by the appropriate stakeholder are
determined by the relevant stakeholder.

3.2 Model and data for a simulation

Based on the conception of the supply chain, a multi-paradigm supply chain simulation model
(discrete event and agent-based) has been constructed to replicate the supply chain described
above. The Java classes for each agent in the supply chain have been created individually for
them and are available for download (products, manufacturers, wholesalers, big-box retailers
with their stores and customers). A discrete-event based technique has been used in order to
carry out organisational activities such as inventory management, order fulfilment, and other
comparable services, among others. Purchase orders may also be represented using a Java class,
which has been built in addition. Event generator objects are used to produce simulation events
(for example, the start of the inventory control checking procedure) during the simulation.
Following each event that is created by the event generator objects, particular methods are used
to elaborate and update the information about demand estimates and inventory levels that is
recorded in database tables. We were able to create a simulation model that was flexible,
parametric, and time efficient thanks to the use of this modelling technique, which had an
interarrival time distribution specified by a negative exponential function and was hence time
efficient. Single Exponential Smoothing (SES) is a technique used by retailers to forecast
demand and manage their inventory levels over time. In order to manage their inventory and
estimate demand, shops employ the Re-Order Level - Target Level (r, R) metric (r, R). Based on
the assumption that the probability distribution for the quantity ordered by customers at each
location of the big-box retailer is triangular, as seen in the picture, In the case of each wholesaler,
detailed information and specifications for configuring the shops of a large-scale retailer are
provided. In the simulation model, inventory management is accomplished through the use of
Dynamic Safety Stocks (DSS), and forecasting is accomplished through the use of Single
Exponential Smoothing (SES). This study's objectives will be achieved through a detailed
description of the stock control and demand predicting policies that were implemented in the
simulation model, as these policies will be necessary for delineating the type of information that
is shared between big-box retailers and wholesalers and determining how it impacts the overall
performance of the enterprise.
Integration of blockchain technology

The Modem Network makes use of the Ethereum blockchain to ensure that items meet the
requirements of the Global Warming Prevention Regulations. A smart contract saves on the
blockchain the measurement hash as well as the unified resource locator (URL) that refers to the
real measurement data recorded in PostgreSQL after the data verification procedure [52].
Because the amount of data gathered is either too vast or too sensitive to be saved on the
blockchain, the raw temperature data and user credentials are stored in PostgreSQL. The Modem
system is built around the blockchain, which serves as its back end. The server is responsible for
the creation, execution, and modification of smart contracts. This is accomplished via the use of
an Ethereum node that is hosted by the server. Using JavaScript Object Notation, a Hypertext
Transfer Protocol (HTTP) server talks with an Ethereum node (JSON). Smart contracts written in
Solidity and running in an Ethereum virtual machine (EVM) are used to verify that shipments
meet the temperature requirements set by the Global Warming Policy. [52] A smart contract is
set for each medical product type, and hence for each shipping of that product kind. A smart
contract that is particular to a cargo comprises the temperature logger ID, the shipment ID, and
the alert criteria for that shipment. Whenever the temperature data obtained by the sensor does
not comply with the GDP requirement, the sender and receiver are alerted and given the
opportunity to resolve the situation. Currently, communication between the front end and the
blockchain is accomplished by an HTTP server that communicates with a Representational State
Transfer (REST) API, which encodes and decodes requests and answers using the JSON format.
CONCLUSION:

In light of the widespread use of the Internet of Things (IoT), the concept of incorporating
blockchains into current transaction supply chains has gained increasing significance. It will
make it easier to develop new supply chains to enable the widespread use of sensor technologies
in the future. With the blockchain technology, it is possible for many upstream and downstream
participants in the supply chain to verify the validity of a product block. The study outlines many
chances for blockchain to be integrated into the flow of the supply chain in order for this to
occur, as described in the paper. In this study, we build the adoption and use of blockchain
technology in an organization is conceptualised in this paradigm, taking into consideration the
relevant elements identified in TAM. The supply chain presented in the case study represents a
significant portion of an organisation and incorporates both internal and external players. It is
probable that not all stakeholders will engage in this technology. Yet, the concept is intriguing
since it allows for Supply chain management will benefit from the compatible formal and
informal implementation of blockchains. while maintaining security. This will enable
organisations to take advantage of a wide range of blockchain applications and solutions to aid in
the transparency, traceability, and validity of information, among other things. This technology
does not have to be used for the whole supply chain; rather, it may be applied to certain elements
of supply chain management, such as "Public Blockchain 2," which is used for inventory
management. Records management, traceability, and accuracy may all be improved in a
manufacturing organisation as a result of this.

Recently, IBM began testing a technology called Adept that allows for the exchange of
information across billions of networked devices by using a Blockchain-based system. As part of
a cooperation with Samsung, it has created a semi-autonomous gadget that is based on the
Internet of Things idea and is connected with the Blockchain. An intelligent washing machine is
capable of managing its own consumable supply, such as purchasing detergent as needed,
performing self-service and maintenance, and even optimising its surroundings by negotiating
with other peer devices in the house or outside the home. Those who are involved in technology
think that blockchain will accomplish for transactions what the internet did for information.
Supply chain management will benefit from the compatible formal and informal implementation
of blockchains. When compared to traditional centralised databases and computational platforms
(on-premises or in the cloud), Blockchains have the potential to reduce some counter-party and
operational risks by acting as a neutral ground between organisations (for more information, see
"Cosmos | Cosmos Network," 2018).

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